2021 BTC Super Cycle
Hyperwave, popularized by Tyler Jenks in 2018, tracked markets at a fundamental level. In 2017, BTC underwent a third hyperwave with a 20k top. It was not clear if BTC had broken its hyperwave structure such that it would return to its phase 1 line. At the time, it was thought that phase 1 was 1000 USD however, 3k has had plenty of significance in bitcoin's price action. Here I present that its possible that 3k was in fact the phase 1 line of BTC and it played a significant psychological role as a resistance and as a support. It played as resistance prior to segwit and support during 2017 china FUD. The strong reactions observed during these times as well as the bottom of the 2018 bear cycle deserves its place as a significant zone for trading action. With it acting as a phase 1 line, the current 2021 cycle forms a new hyperwave structure.
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